MWEQ.L vs. CYBE.AS

Last updated Jun 5, 2026

MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) and CYBE.AS (iShares China CNY Bond UCITS ETF EUR Hedged Acc) are both exchange-traded funds - MWEQ.L is a Global Equities fund tracking the MSCI World Equal Weighted Net Total Return USD Index, while CYBE.AS is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past year, MWEQ.L returned 18.66% vs 3.18% for CYBE.AS. At a 0.26 correlation, their price movements are largely independent. MWEQ.L charges 0.20%/yr vs 0.40%/yr for CYBE.AS.

Performance

MWEQ.L vs. CYBE.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) and iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MWEQ.L is traded in USD, while CYBE.AS is traded in EUR. To make them comparable, the CYBE.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MWEQ.L achieves a 7.98% return, which is significantly higher than CYBE.AS's 0.62% return.

MWEQ.L

• 1D: 0.28%
• 1M: 1.26%
• YTD: 7.98%
• 6M: 9.47%
• 1Y: 18.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CYBE.AS

• 1D: 0.17%
• 1M: -0.53%
• YTD: 0.62%
• 6M: 1.59%
• 1Y: 3.18%
• 3Y*: 7.98%
• 5Y*: 2.89%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MWEQ.L vs. CYBE.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc	7.98%	21.96%	0.07%
CYBE.AS iShares China CNY Bond UCITS ETF EUR Hedged Acc	0.62%	13.82%	-3.41%

Correlation

The correlation between MWEQ.L and CYBE.AS is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.26

Return for Risk

MWEQ.L vs. CYBE.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MWEQ.L

MWEQ.L Risk / Return Rank: 45
MWEQ.L Sharpe Ratio Rank: 43
MWEQ.L Sortino Ratio Rank: 46
MWEQ.L Omega Ratio Rank: 43
MWEQ.L Calmar Ratio Rank: 44
MWEQ.L Martin Ratio Rank: 50

CYBE.AS

CYBE.AS Risk / Return Rank: 24
CYBE.AS Sharpe Ratio Rank: 21
CYBE.AS Sortino Ratio Rank: 20
CYBE.AS Omega Ratio Rank: 21
CYBE.AS Calmar Ratio Rank: 33
CYBE.AS Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MWEQ.L vs. CYBE.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) and iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MWEQ.L	CYBE.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.50	+1.00
Sortino ratio: Return per unit of downside risk	2.25	0.77	+1.47
Omega ratio: Gain probability vs. loss probability	1.27	1.09	+0.18
Calmar ratio: Return relative to maximum drawdown	2.15	0.66	+1.49
Martin ratio: Return relative to average drawdown	8.28	1.67	+6.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWEQ.L vs. CYBE.AS - Sharpe Ratio Comparison

The current MWEQ.L Sharpe Ratio is 1.50, which is higher than the CYBE.AS Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of MWEQ.L and CYBE.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MWEQ.L	CYBE.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	0.50	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.44	+0.78

Drawdowns

MWEQ.L vs. CYBE.AS - Drawdown Comparison

The maximum MWEQ.L drawdown since its inception was -12.95%, smaller than the maximum CYBE.AS drawdown of -20.04%. Use the drawdown chart below to compare losses from any high point for MWEQ.L and CYBE.AS.

Drawdown Indicators

	MWEQ.L	CYBE.AS	Difference
Max Drawdown Largest peak-to-trough decline	-12.95%	-20.04%	+7.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-5.25%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.40%	—
Current Drawdown Current decline from peak	-0.36%	-2.16%	+1.80%
Average Drawdown Average peak-to-trough decline	-1.67%	-5.64%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.08%	+0.18%

Volatility

MWEQ.L vs. CYBE.AS - Volatility Comparison

Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) has a higher volatility of 3.27% compared to iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS) at 1.80%. This indicates that MWEQ.L's price experiences larger fluctuations and is considered to be riskier than CYBE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWEQ.L	CYBE.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	1.80%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	5.00%	+4.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	6.86%	+5.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.08%	8.11%	+5.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	8.05%	+6.03%

MWEQ.L vs. CYBE.AS - Expense Ratio Comparison

MWEQ.L has a 0.20% expense ratio, which is lower than CYBE.AS's 0.40% expense ratio.

Dividends

MWEQ.L vs. CYBE.AS - Dividend Comparison

Neither MWEQ.L nor CYBE.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MWEQ.L and CYBE.AS in my portfolio?

MWEQ.L and CYBE.AS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MWEQ.L or CYBE.AS?

On fees, MWEQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MWEQ.L or CYBE.AS?

MWEQ.L is cheaper with a 0.20% expense ratio, compared with 0.40% for CYBE.AS.

What is the main difference between MWEQ.L and CYBE.AS?

MWEQ.L is categorized as Global Equities, while CYBE.AS is Emerging Markets Bonds. MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index, while CYBE.AS tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for MWEQ.L and 0.40% for CYBE.AS.